Exhibit 26-3
-Refer to Exhibit 26-3. The marginal factor cost (MFC) of the fourth unit of labor is
A) greater than $10 if the firm expects to hire the fourth worker.
B) the same as the MFC of the first unit.
C) less than the wage rate.
D) equal to the wage rate.
E) b and d
Correct Answer:
Verified
Q90: A factor price taker is a firm
Q91: Exhibit 26-3 Q92: A price searcher (monopolist, monopolistic competitor, etc.) Q93: The additional revenue generated by a firm Q94: A factor price taker faces Q96: Which of the following statements is true? Q97: A perfectly competitive firm will continue to
A)a perfectly elastic
A)Employers
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